News Releases

Blue Racer Midstream, LLC (“Blue Racer”) and its wholly owned subsidiary Blue Racer Finance Corp. (together with Blue Racer, the “Issuers”) announced today that, subject to market conditions, they intend to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States pursuant to Regulation S under the Securities Act, $300 million in aggregate principal amount of their 6.125% senior notes due 2022 (the “additional senior notes”). 
Stakeholder Midstream, LLC (“Stakeholder”) today announced that the company has formed with an initial equity commitment of $250 million from EnCap Flatrock Midstream (“EnCap Flatrock”). Based in San Antonio, Stakeholder serves oil and gas producers operating in unconventional shale plays across North America by providing midstream solutions, including in-field natural gas gathering, compression, treating and processing services; innovative NGL solutions; and crude oil gathering, transportation and storage. The company will build on the management team’s deep technical and commercial experience in the Eagle Ford Shale and other major basins throughout North America.
Blue Racer Midstream, LLC (“Blue Racer”) announced today that it has commissioned a second cryogenic processing plant at its Berne Natural Gas Processing Complex (“Berne”) in Monroe County, Ohio. Known as Berne II, the new facility has 200 million cubic feet per day (MMcf/d) of nameplate capacity, bringing Blue Racer’s total processing capacity in the Utica and Marcellus shale plays to 800 MMcf/d.
Tall Oak Midstream, LLC (“Tall Oak”) announced today that its subsidiaries, TOMPC, LLC and TOM-STACK, LLC, have each closed a $75 million credit facility with accordion features that allow for expansions to $100 million. Formed in early 2014, Tall Oak is an independent midstream company focused on providing midstream services to oil and gas producers operating in the Mid-Continent. The senior secured facilities bring Tall Oak’s total debt capacity to $200 million. Together with $700 million in prior private equity commitments from EnCap Flatrock Midstream and Tall Oak’s founders, total financing capacity for Tall Oak I and Tall Oak II now stands at $900 million.
Gravity Midstream, LLC ("Gravity") today announced that its wholly owned subsidiary, Gravity Midstream Corpus Christi, LLC, has closed on the acquisition of a 44-acre crude oil logistics terminal located on the Corpus Christi Ship Channel in the heart of the area’s refining center. The fully permitted facility will serve traders, producers and refiners of crude oil and condensate produced in the Eagle Ford Shale and the Permian Basin. Gravity expects to bring the terminal into service in September 2015 under the name Gravity Oil Terminal at Corpus Christi (“GOTAC” or the “GOTAC Terminal”).  
​Tall Oak Midstream, LLC (“Tall Oak”) announced today that the company is constructing a new crude oil gathering, storage and transportation system designed to serve producers in Oklahoma’s STACK play. Tall Oak is already gathering and processing natural gas on its STACK System for multiple customers. Anchored by a long-term agreement with Felix Energy, LLC, the crude oil system will connect to multiple downstream pipelines that provide direct access to the market center at Cushing, Oklahoma. Tall Oak expects to bring the system into service by the fourth quarter of 2015.
Caiman Energy II, LLC and Blue Racer Midstream, LLC announced today that Jack Lafield has stepped down as chief executive officer of both companies. Mr. Lafield will continue to serve as chairman of Caiman Energy II and remains a member of Blue Racer’s board of directors. Stephen Arata has been named CEO of both Caiman Energy II and Blue Racer Midstream.
EnCap Flatrock Midstream (“EnCap Flatrock”) today announced that Gregory C. King has joined the firm as a senior adviser. Mr. King comes to EnCap Flatrock with more than 30 years of experience in the energy industry.
Tall Oak Midstream, LLC (“Tall Oak” or “the company”) today announced that its founders have formed Tall Oak Midstream II, LLC (“Tall Oak II”) with an initial equity commitment of up to $300 million from private equity firm EnCap Flatrock Midstream (“EnCap Flatrock”) and Tall Oak management.
Nuevo Midstream Dos, LLC (“Nuevo Dos”), a full-service midstream provider based in Houston, announced today that the company has secured an initial equity commitment of $400 million from EnCap Flatrock Midstream (“EnCap Flatrock”) and the Nuevo Dos management team. Nuevo Dos was formed earlier this year by the team that led its successful predecessor company, Nuevo Midstream, LLC (“Nuevo”), which was also backed by EnCap Flatrock. After developing a significant midstream footprint in the Delaware Basin, Nuevo was sold to Western Gas Partners LP in October 2014 for $1.5 billion.
Rangeland Energy announced today that the company has executed a long-term agreement with a subsidiary of Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) to be an anchor shipper of crude oil on the Rangeland Integrated Oil Pipeline (“RIO Pipeline”), which will connect production from the Delaware Basin to the crude oil market center in Midland, Texas.
Moda Midstream, LLC (“Moda”), a liquids terminaling and logistics provider, announced today that it has secured an initial equity commitment of $750 million from EnCap Flatrock Midstream and the Moda management team.
EnCap Flatrock Midstream is pleased to announce the promotion of Thomas J. (“Tommy”) Waldrip and J. Zachary (“Zach”) Kayem to vice president effective January 1, 2015. Mr. Waldrip and Mr. Kayem provide finance, administrative and accounting support to EnCap Flatrock Midstream’s funds and portfolio companies.  As vice presidents, they will also help recruit new management teams to join the firm’s portfolio of midstream companies.
Private equity firm EnCap Flatrock Midstream announced today that it has expanded its presence by opening an office in the heart of downtown Houston. The new Houston location places EnCap Flatrock in close proximity to many important investors, oil and gas producers, and some of EnCap Flatrock’s own portfolio companies. EnCap Flatrock is headquartered in San Antonio and has an additional office in Oklahoma City.
Tall Oak Midstream, LLC (“Tall Oak”) announced today that initial natural gas gathering operations are underway on the Tall Oak STACK System. The company’s new gas gathering and processing system is designed to serve producers in Oklahoma’s STACK play. STACK is an acronym for the Sooner Trend, the Anadarko Basin and Oklahoma’s Canadian and Kingfisher counties. The STACK play sits northwest of Oklahoma City and targets the Woodford and Mississippian-age shales.
EagleClaw Midstream Services, LLC (“EagleClaw”) announced today that the company has closed on the purchase of natural gas gathering and processing assets in Reeves County, Texas. These assets include more than 50 miles of gas gathering pipeline, a refrigerated Joule-Thomson (“JT”) plant with the capacity to process 15 million cubic feet of natural gas per day (MMcf/d), a 60 MMcf/d cryogenic processing plant and seven new 1,700-horsepower compressors.
Nuevo Midstream, LLC (“Nuevo”) and Nuevo’s private equity backer, EnCap Flatrock Midstream (“EFM”), today announced that Western Gas Partners, LP (NYSE: WES) (“Western Gas”) will acquire Nuevo for $1.5 billion in cash. The transaction is expected to close by the end of the year, pending the completion of customary regulatory approvals and closing conditions.
Caiman Energy II, LLC (“Caiman II”) is pleased to announce that Stephen Arata, has been named Dallas Energy CFO of the Year by an independent panel of judges selected by the Dallas Business Journal. Arata serves as executive vice president, chief financial officer (CFO) and a director of Caiman II. He is also executive vice president, CFO and a director at Blue Racer Midstream (“Blue Racer”), a joint venture formed by Caiman Energy II and Dominion (NYSE: D) to develop midstream infrastructure and services in the Utica Shale.

Tall Oak Midstream Secures $100 Million Credit Facility
October 16, 2014 | Tall Oak Midstream

Tall Oak Midstream, LLC (“Tall Oak”) announced today that its subsidiary, TOMPC, LLC, has secured a $100 million senior credit facility that can be expanded to $150 million. Formed in early 2014, Tall Oak is an independent midstream company focused on providing midstream services to oil and gas producers in the Mid-Continent.
Rangeland Energy (“Rangeland”) announced today that the company has signed a multiyear agreement with Halliburton (NYSE: HAL) to provide frac sand rail unloading, storage and distribution services in the Delaware Basin. Rangeland will serve Halliburton and its producer customers from Rangeland’s RIO Hub, now under construction near Loving, New Mexico.  The 300-acre facility is located in the heart of the Delaware Basin’s rapidly growing production area.  Operations are expected to begin in October.